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You've all heard "not your keys, not your coins" or as @BitcoinZay puts it: "no 
no 
"
This is an important (and intimidating) concept for new Bitcoiners to understand
What's the relationship between private keys, sovereignty, and 1930s gold seizures?
no "This is an important (and intimidating) concept for new Bitcoiners to understand
What's the relationship between private keys, sovereignty, and 1930s gold seizures?
The basics: public and private keys
A public key is like a mailing address, it identifies your Bitcoin wallet for you to receive transactions.
Each public key corresponds with a private key.
A private key is like the key to your mailbox, it lets you access your Bitcoin. 2/
A public key is like a mailing address, it identifies your Bitcoin wallet for you to receive transactions.
Each public key corresponds with a private key.
A private key is like the key to your mailbox, it lets you access your Bitcoin. 2/
Private keys are used to sign transactions and verify that the Bitcoin in a given wallet is yours.
Never share your private key with anybody for any reason or enter it online.
If somebody were to gain access to your private key, they could spend the Bitcoin in that wallet. 3/
Never share your private key with anybody for any reason or enter it online.
If somebody were to gain access to your private key, they could spend the Bitcoin in that wallet. 3/
When you store your Bitcoin on an exchange or hosted wallet, they hold the private key to your Bitcoin.
Companies take on the responsibility of securing your private keys, making things more convenient for you.
In return, you give them final control of your assets 4/
Companies take on the responsibility of securing your private keys, making things more convenient for you.
In return, you give them final control of your assets 4/
It's important to make sure the place that you're buying Bitcoin gives you the option to withdraw to your own wallets.
When you do this, you’re making a transaction on the Bitcoin blockchain that transfers sats from the exchange wallet to the wallet address you provide.
When you do this, you’re making a transaction on the Bitcoin blockchain that transfers sats from the exchange wallet to the wallet address you provide.
When you hold Bitcoin in your own wallet, you hold your own private keys.
You are the only one that can transact with that Bitcoin. You don't need anybody else's permission to use it.
Bitcoin enables monetary sovereignty and lets you be your own bank 6/
You are the only one that can transact with that Bitcoin. You don't need anybody else's permission to use it.
Bitcoin enables monetary sovereignty and lets you be your own bank 6/
You don’t have to dig deep to see why this is important.
Last month, gatekeepers in one way or another stopped people from buying shares of $GME.
Last year, billions in deposits were frozen because China pressured banks to close accounts supporting Hong Kong protestors 7/
Last month, gatekeepers in one way or another stopped people from buying shares of $GME.
Last year, billions in deposits were frozen because China pressured banks to close accounts supporting Hong Kong protestors 7/
The US govt has infringed on monetary sovereignty in the past.
In the 1930s, dollars were still backed by gold. The govt wanted to create more dollars to “stimulate the economy.”
But they didn’t have enough gold— people were hoarding it as a store of value. 8/
In the 1930s, dollars were still backed by gold. The govt wanted to create more dollars to “stimulate the economy.”
But they didn’t have enough gold— people were hoarding it as a store of value. 8/
So in 1933, the US Govt passed Executive Order 6102, confiscating all gold deposits and ordering private citizens to turn in all gold in return for dollars.
At the time, gold was a threat to the govt. Bitcoin is a threat to central banks’ monopoly on money. 9/
At the time, gold was a threat to the govt. Bitcoin is a threat to central banks’ monopoly on money. 9/
Imagine a scenario in which a govt ordered exchanges to turn over their customers' Bitcoin.
But when you hold your own keys, they can’t take your Bitcoin away.
One could simply say they forgot their keys, or as @michael_saylor says: tell everybody to go f*ck themselves 10/
But when you hold your own keys, they can’t take your Bitcoin away.
One could simply say they forgot their keys, or as @michael_saylor says: tell everybody to go f*ck themselves 10/
Bitcoin, when held by its owner, is unconfiscatable and uncensorable.
But to exercise these properties, you have to hold your own keys.
Here’s a helpful tool to help you select which type of wallet is right for you 11/
https://bitcoin.org/en/choose-your-wallet?step=5&platform=hardware&user=experienced
But to exercise these properties, you have to hold your own keys.
Here’s a helpful tool to help you select which type of wallet is right for you 11/
https://bitcoin.org/en/choose-your-wallet?step=5&platform=hardware&user=experienced
When you stack sats with Ryze, you can hold your Bitcoin with us.
But when you’re ready, we want you to hold your own keys.
We’re committed to helping people understand and exercise their right to monetary sovereignty.
Get early access: http://joinryze.com
But when you’re ready, we want you to hold your own keys.
We’re committed to helping people understand and exercise their right to monetary sovereignty.
Get early access: http://joinryze.com
